Cambodia Compass report, 21th May - Tencent Holdings Ltd. pledged to sharply increase investments this year after posting a 25 per cent gain in quarterly revenue. Tencent is trying to sustain growth in revenue, which climbed to 135.3 billion yuan (US$21 billion) in the three months ended March. China's three largest tech corporations are vying to entice users in the fast-growing arenas of online grocery and video. The results affirmed the resilience of the world's largest game publishing business as the pandemic recedes. Tencent has shed roughly US$200 billion in market value since its January peak, part of a broader Chinese tech selloff.
Tencent announced a pipeline of more than 40 new mobile and PC titles during its annual game showcase Sunday. Its fintech and cloud division posted its strongest growth ever, with sales surging 47 per cent. Online advertising revenue climbed 23 per cent, helped by the consolidation of new subsidiary Bitauto. But the division could take a hit from potential regulatory headwinds in K-12 education and delays to its video releases.
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